Balancing the preservation of existing affordable housing with new construction overview
- Is the property in a location where affordable housing is needed and desirable?
- Is preservation required in order to retain deep housing subsidies?
- Is it less expensive to preserve the property than to develop affordable housing in another location?
- How difficult would it be to develop housing in another location, and how does that compare with the level of difficulty of preserving the existing development?
- To what extent will one option or the other require residents to relocate?
- Will the redeveloped property meet the needs of the intended residents?
- What is likely to happen to the property in the event it is not preserved?